1. Because internationally recognized certifications like ISO 9000 are becoming so common among suppliers, it is becoming more important that purchasing firms develop internal certification programs that are geared toward the specific needs of the purchasing organization.
1. Benchmarking is:
A system of performance metrics that seeks to motivate suppliers to perform better.
A practice where companies attempt to learn and apply the best practices of other companies.
A system of marking defective inbound inventory so it can quickly be identified for return to the supplier.
A program where suppliers compete for contracts, but those companies who are outbid are provided advice for winning future contracts.
1. Variations of outsourcing include all of the following EXCEPT:
1. The influence of corporate sourcing decisions interacts with internal design, production, finance, marketing, and accounting.
1. The inventory level where suppliers replenish their customer’s inventory with a predetermined order quantity is called the:
Channel Equity Level
1. The management of the firm’s external resources through identification and selection of suppliers, management of supplier relationships, and monitoring and rewarding supplier performance in an effort to support the long-term goals of the organization is called:
1. An outsourcing program can result in all of the following positive outcomes, EXCEPT:
Reducing staffing levels
Decreased need for supplier management
Gains in manufacturing flexibility
1. The primary benefits of ____ include costs savings and freeing up time for purchasing staff to concentrate on the firm’s core activities.
The Ethical Trade initiative
1. Benchmarking is the practice of copying what other businesses do best.
1. Product parts, processes, and product assembly should all be designed by the manufacturing firm to assure a single-minded approach that the suppliers can follow. Supplier involvement in these design phases is considered counterproductive.
1. The following term refers to an act that creates the greatest good for the greatest number of people:
Rights and duties
1. The application of ethical principles to business situations can be referred to as:
1. According to the textbook, collaborative relationships place a relatively lower importance rating on which of the following competitive priorities:
Speed of Delivery
Frequency of deliveries
1. Hard-bargaining sourcing departments focused on decreasing purchasing spend may experience which of the following from their suppliers?
Lower levels of quality from their suppliers
Lower levels of service from their suppliers
Deteriorating buyer-supplier relationships
All of these
1. Which of the following can be used as a punishment for suppliers that perform poorly?
Elimination of future business with the focal firm
Downgrade the supplier’s status
All of these
1. According to the text, driving your suppliers to offer the lowest possible prices, which in turn will lower your cost of goods sold, could prove to be harmful to buyer-supplier relationships and may also decrease the quality levels of the items produced using your suppliers’ low cost components.
1. Which of the following are considered outcomes of implementing a supplier evaluation and selection criteria?
Allows firm to screen out poor performing suppliers in its present supplier base.
Allows firm to screen out undesirable suppliers that they may be considering for future purchases.
Allows firm and its suppliers to develop a better corporate relationship.
All of these.
1. While paperless transactions are now possible through e-procurement and Web-based services, these would NOT be considered sustainable business practices.
1. Which of the following would most likely be considered a functional product?
PDA – Personal Digital Assistant
HDTV – High Definition Televisions
1. The Ethical Trading Initiative (ETI) does NOT include which of the following:
Children under 13 shall not be employed
Working hours are not excessive
Regular employment is provided
Freedom of association and the right to collective bargaining are respected
1. The average annual Purchase spent as a percentage of sales has been declining over the years.
1. “Rationalizing the supplier base” would mean that the purchasing firm is attempting to reduce the number of suppliers in its supplier network by eliminating poor performing suppliers in its present supplier base.
1. The purchasing managers at Sunnydale Corporation decide to intentionally increase purchases from small, women-owned suppliers) This decision can be considered:
1. Which of the following is FALSE?
The use of 3PL’s has been increasing as companies seek more effective supply chain strategies.
VMI provides retail facilities the opportunity to communicate to manufacturers that the customers are requesting customized items.
The use of 3PL providers allows companies to gain competitive advantages without having to gain the required knowledge through firsthand experience.
VMI allows suppliers to manage their customers’ inventory provided they have the capability to see inventory levels in real time.
1. Which of the following is TRUE?
VMI stands for Vertically Managed Inventory
3PL stands for Third Party Leverage
VMI stands for Vendor-Managed Inventory
3PL stands for Three Point Logistics
1. A 4PL, commonly referred to as a lead logistics provider, is a trucking company that also provides tracking services.
1. Some strategic supplier agreements reward the highest performing suppliers with a share of the cost reductions resulting from supplier improvements, additional purchasing contracts, or contract extensions on existing contracts.
1. All of the following are reasons for the increasing use of ethical and sustainable sourcing practices EXCEPT:
Global population growth
Increasing environmental awareness
Legislation requiring corporate ethical and sustainable sourcing
Declining worldwide levels of natural resources
1. Retail items, which would likely be found at a store like Target or Wal-Mart, like lamps, blankets, microwave ovens, and candy bars would be classified as functional products.
1. Companies that lack internal expertise in a specific functional area would likely consider insourcing.
1. Harold’s Fish Shop decides to reduce its purchases from poorly performing fish suppliers and focus future orders with suppliers that have been top-performing in the past. This is an example of:
Supply base rationalization
Top-tier supplier selection
1. According to the textbook, Wal-Mart is perhaps the company that is most averse to implementing sustainable business practices.
1. According to the EcoMarkets survey, which surveys over 6000 private and public buyers, the most popular aspect of green sourcing is:
1. One of the most value enhancing activities performed by a supplier, for a key customer, which minimizes carrying costs and can avoid stockouts:
Early supplier involvement scheduling
Vendor managed inventory
Strategic inventory planning
Purchase spend reduction forecasting
1. Managing a firm’s external resources in ways that support the long-term goals of the firm can be referred to as:
1. Which of the following is NOT a step suggested in the Supply Chain Sourcing Strategy Framework?
Classify supplier items as either innovative or functional
Define the goals of the supply chain and check for consistency with products and firm strategy
Distribute free samples of all purchased products to the end-user for detailed evaluation and feedback on supply chain development
Identify and evaluate the capabilities of suppliers and then identify areas which could be improved
1. While a manufacturer may have substantial influence over its first tier suppliers, their influence over second and third tier suppliers is typically much higher.
1. Developing a collaborative negotiation infrastructure include four steps: building a preparation process, develop a negotiation database. Design a negotiation launch process, and institute a feedback mechanism.
1. Purchasing departments can be seen as a primary designer and facilitator of important inward- and outward-facing sourcing policies.
1. Companies that experience late deliveries or low product quality from their supplier may resort to insourcing.
1. Wal-Mart is the driving force behind a system of measurement intended to influence how products are made and purchased in the future. This system of measurement is the:
Retail carbon footprint
Global sustainability index
1. Generally speaking, there are two approaches to deciding whether or not an action is ethical, utilitarianism and rights and duties.
1. The textbook outlined a Supply Chain Ethical and Sustainability Sourcing Strategy Framework. How many steps are in this framework?
1. Manufacturers typically have very little influence over second and third tier suppliers when compared to the influence they hold over first tier suppliers.
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